Iranian Oil minister HE Eng. Bijan Namdar Zanganeh.
Image by National Iranian Oil Company (NIOC)


OPEC not interested in oil price more than 60 $ pb

Tehran (NIOC) - 10 January 2018

Iranian Oil minister stated that OPEC does not have any further intention of more than 60-dollar oil, because of shale oil production.

Mentioning the recent price increase, Zanganeh said that the boost is due to the production decline on the side of OPEC members. Of course it is still winter and the increase of demand is responsible for the increase of the prices.

He said OPEC is not really intended to up the prices more than 60 dollars per barrel.

The oil price has recently witnessed an increasing trend up to the point that it once reached more than 68 dollars per barrel.

National Iranian Oil Company (NIOC) press release